Course introduction
Mar 28, 2015
Course introduction
Goals for course: “I want to learn how to..”
• Manage my own company• Develop creative ideas I can use in my career• Start a business• Finance and place a valuation on a business• Decide which type of business to start• Develop a global brand• Be a true entrepreneur and how to effectively
implement those qualities into my professional life.
Goals for course: “I want to learn how to..”
• Know where to put my money in my business and how you know it’s the right time to do that
• Present a new idea that can make money and be ethical to society
• Open my own successful restaurant or another type of business
• Recognize and take advantage of an entrepreneurial opportunity when it arises
• Own a restaurant and gift shop
Goals for course: “I want to learn how to..”
• Start and maintain a successful company through growth
• Evaluate the logistics and possibilities of new ideas
• Make relatively quick but also informed decisions in the business world where time is of the essence
• Separate the good ideas from the bad
Admired entrepreneurs
• Steve Jobs• Truett Cathy (founder of
Chick-fil-A)• Jim McCann (1-800-
flowers)• Jeff Bezos (Amazon)• Sean "P Diddy" Combs• Sam Walton• Benjamin Franklin
• Bill Gates• Richard Branson• Joyce Clyde Hall
(Hallmark Card Co)• Tyra Banks• Kevin Plank (Under
Armour)• Brian Taylor (Kernel
Seasons) • Johnny Morris (Bass Pro
Shops)
Admired firms
• Google• ESPN• General Electric• Wal-Mart• Bariatric Health &
Wellness (Tusc, AL)• Target• Nike• Apple
• Toyota• Amazon.com• Merck & Co.• St. Jude Children's
Research Hospital• Phoenix Lumber
(Mobile)• Chick-fil-A• National Rifle Assn
My research interests
My research interests
My research interests
My research interests
My research interests
Duration of window of opportunity
Window closes
Window opens
Too early Too late
Likelihood of failure through action
Likelihood of failure through inaction
0%
100%
Lik
elih
ood
of fa
ilure
Triggers Prospectivememory
Uncertainty
+
Counterfactualthinking action
domain
Prefactualthinking action
domain
Time
Time urgency
_ _ +
Domain of entrepreneurial action
+
My goals for you
• Become aware of how business models work and how people make profits – understand the underlying logic of the model
• Become able to differentiate great ideas from bad ideas
• Develop skills that will help you become successful entrepreneurs
• Have fun